Sergey Brin gave away more than 4 million Alphabet shares worth nearly $700 million.
The gift is split between Class A and Class C stock, which carry different voting rights.
Brin has a history of large donations, including one worth $600 million in May 2023.
Sergey Brin just gave away stock worth almost $700 million — but we don’t know who to.
The Google cofounder transferred just over 4 million Alphabet shares, according to a Securities and Exchange Commission filing Wednesday.
Brin is 10th on the Bloomberg Billionaires Index with a net worth of about $144 billion. He’s behind the likes of Elon Musk, Mark Zuckerberg, and Jeff Bezos, and ahead of Michael Dell and Jensen Huang.
The gift was split between Class A and Class C stock. Each A share carries one vote, while C stock have no voting rights.
A stock closed at $168.56 on Wednesday, and C closed at about $170, bringing the total value to just over $693 million.
Shares in the search giant jumped on Wednesday following Google’s I/O developer conference the previous day, where about two dozen new models, features, and updates were unveiled.
It said it would launch AI Mode, which allows US users to chat with Google while browsing the web, resulting in a more conversational search experience.
The recipient of Brin’s gift could be a charity, a financial vehicle, or a trust.
He has previously made large gifts, giving away stock about $600 million in May 2023 after the launch of Google’s AI search, Bloomberg reported. In May and November 2024, he made gifts of shares worth more than $100 million.
Brin has a personal foundation, the Sergey Brin Family Foundation, which disbursed about $250 million in both 2020 and 2021.
He’s also donated more than $1 billion to research into Parkinson’s disease and funding a nonprofit focused on the climate crisis.
Brin’s family office didn’t immediately respond to a request for comment.
Read the original article on Business Insider
